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Jan
21

Using QuickBooks to Track Outstanding Invoices

The other day I received a great question from a customer wondering how she can use QuickBooks to see which customers have outstanding invoices. It was such a great question, I thought I’d share the QuickBooks tips with my blog readers as well.

Here are 4 QuickBooks reports that will help you manage your outstanding customer invoices…

1. Customers Who Owe Money

Using QuickBooks 2013, there is a sidebar on the left side of your screen with useful tools.
–>Click on My Shortcuts
–>Click on Snapshots
–>Make sure you are looking at the “Company” tab
–>Check out the Customers Who Owe Money report

This report offers are quick snapshot to a list of customers who have outstanding invoices. You can quickly see which customers owe you money, when the invoice was due, and the amount due. By default, the report sorts by the oldest receivable first. However, you can click on the customer, date, or amount header to have the report quickly resorted the way you want.

Customers Who Owe Money QuickBooks Report

Managing receivables with QuickBooks

2. Open Invoices Report

–>Click on Reports from the menu across the top of your QuickBooks window
–>Select the Customers & Receivables option from the drop down report list
–>Choose the Open Invoices report

This report will show you all of the open invoices, sorted alphabetically by customer name. It’s a powerful report if you need to see the invoice number, the invoice date, due date, and amount due all in one report.

QuickBooks Open Invoice Report

3. A/R Aging Detail Report

–>Click on Reports from the menu across the top of your QuickBooks window
–>Select the Customers & Receivables option from the drop down report list
–>Choose the A/R Aging Detail report from the list of report choices

The A/R Aging Detail report will show you all open invoices, sorted by due date. So you can quickly see which accounts receivables (A/R) are 0-30 days, 30-60 days, 60-90 days, and 90+ days past due. It’s a great way to track late paying customers and see if you have any really old outstanding invoices that either need to be sent to collections or written off the books and expensed as bad debt.

QuickBooks A/R Aging Detail Report

4. Customer Balance Detail Report

–>Click on Reports from the menu across the top of your QuickBooks window
–>Select the Customers & Receivables option from the drop down report list
–>Choose the Customer Balance Detail report from the list of report choices

The Customer Balance Detail report in QuickBooks will show you all the invoices & payments for each customer, sorted by customer. Although this report is not the best one to look at outstanding invoices, I mentioned it because it’s an extremely useful report to gain an overall view of your customers activity. You can see your customers, their invoices, the payments you have received, and it tells you which customers have an open balance due.

QuickBooks Customer Balance Detail Report

QuickBooks Tip:

Want more information about the invoice you see on the various reports? Hover your mouse over the invoice you would like to see more details on, when the magnify glass appears, just double click on the invoice. QuickBooks will drill down and open the invoice window so you can view all the details for that specific invoice.

**Please note, the information included on the report samples in this blog post came from one of QuickBooks Sample Company Files. The reports display fictional data.**

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Michelle Edwards, CPA - QuickBooks Consultant Written by Michelle Edwards, CPA
Certified QuickBooks ProAdvisor

Michelle Edwards, CPA is the owner of Trailhead Accounting Solutions CPA, LLC, an Erie, CO based CPA firm focused on providing small and mid-sized businesses with day-to-day accounting, bookkeeping, and Virtual CFO solutions. Michelle is a CFO turned consultant who loves working with small businesses and entrepreneurs. When she’s not crunching numbers, she can be found hiking, remote camping, gardening, home brewing, quilting, and hanging out with her family.


10 comments

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  1. Andrea says:

    Is there a way to print all of the individual invoices with outstanding balances at once?

    1. Michelle Edwards, CPA says:

      Hi Andrea,

      Unfortunately, I don’t know of an easy way to do that. I recommend printing statements and sending those to your customers with outstanding balances.

  2. Nancy says:

    We have used Quickbooks for 12 years now but are new to charging finance fee’s. When we do the finance charge process, we printed a collections report and noted that the due date was the same as the invoice date therefore the finance charge was incorrect. How do we change or manage that due date?

    1. Michelle Edwards, CPA says:

      Hi Nancy,

      When you click on “Assess Finance Charges” from the customers menu in QuickBooks, you can adjust the assessment date. Otherwise, click the “Settings” button at the bottom of the Assess Finance Charges window and you should be able to make the adjustment there. I hope that helps answer your question. Thanks!

  3. Mike says:

    I’m pulling an AR Aging Detail report. Is there a way to get the invoice numbers for each line paid to show on that report?

    1. Michelle Edwards, CPA says:

      Hi Mike,

      The A/R Aging report only shows “aging” invoices (aka past due/not paid yet). The Customer Balance Detail Report will show you a list of all invoices & payments for each customer. I hope that helps. Let me know if I can assist with anything else. Thanks!

  4. Susie says:

    We the notes tab to keep collection notes for our customers. Is there any way to print a aging/collections report and include those notes?

    1. Michelle Edwards, CPA says:

      Susie,

      I don’t believe there is a way to prepare such a report. I track notes on several of my clients as well. That would be very helpful to have a quick report to see those collection notes & details.

  5. Benjamin Daramola says:

    Excellent!

    1. Michelle Edwards, CPA says:

      Thanks Benjamin! Glad I was able to help.

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